Despite Misconceptions, ARMs Right for Many Consumers

  • November 7, 2013

Americans love a comeback story. The chance for redemption is something everyone deserves – even when it comes to the perception of adjustable rate mortgages (ARMs). The much maligned loan program is actually beginning to play a much more prominent role in the industry helping consumers refinance and purchase homes. But didn’t ARMs contribute to the housing meltdown? No. In fact, it’s quite the opposite. An ARM is simply a mortgage structure that allows a borrower to enjoy a low rate for a fixed period of time before the interest rate begins to adjust up and down. Subprime ARM’s failed not because they had the ARM structure, but rather because the underwriting standards used to approve borrowers for those loans by some lenders was abysmal. Are ARMs for everyone? Of course not, there is never a one-size-fits all answer. But they are also not the villains they are sometimes portrayed as. If you would like to talk to Bob about ARMs, or any other topic, please contact us.

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Homebuyers going bigger as rates go lower

  • November 13, 2012

With historically low interest rates and record high home affordability, consumers are in an enviable position like we have rarely seen. They are now able to purchase larger homes, for lower costs and be perched in a great position to benefit from a slowly recovering housing market.

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Quicken Loans Chief Economist Bob Walters Offers Tips to Pay Off Your Home

  • March 19, 2012

Mortgage burning parties are back. In the second of a monthly video series, Markets and Musings, Quicken Loans Chief Economist Bob Walters discusses the steps homeowners can take to pay off their home, including bringing cash to the closing table or shortening their loan term. Please contact us if you would like to speak to Bob about the growing number of homeowners paying off their home.

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